Tenet announces new chief executive

Tenet has appointed a successor to its current chief executive, who is due to retire from the position later this year.

Martin Greenwood leaves the position of chief executive after eight years in the role and will be replaced by Mark Scanlon in the next few months.

Mr Greenwood said: "It’s been a great privilege to work at Tenet.

"As I leave, the board and major shareholders have agreed the strategic plan for the next five years, which targets continued growth.

"However, I will be 70 by the end of those five years so have decided that now is the most appropriate time to hand over the reins."

Mr Greenwood said the plan included significant investment in IT and compliance delivery as part of the group’s future.

He added: "I am confident that the team, led by their new CEO, will deliver on these future goals and I would like to thank them and the rest of Tenet’s staff and advisers for their support during my time at the helm."

In December Mr Greenwood said 2018 was a year when the business had been "future-proofed".

According to Mr Greenwood, Tenet had "embedded a refined strategy" and leadership team, while growing its turnover, adviser numbers, advocacy levels and profit.

Mr Scanlon joins Tenet from his role as chief executive at Personal Group Holdings, a provider of employee and financial services.

Mr Scanlon said: "Tenet is a forward-looking organisation that enjoys the support of its three major shareholders and I’m excited by the opportunities facing the group, as it continues to meet the evolving needs of the intermediary market."

Phillip Hilling, group chairman at Tenet, said: "I would like to thank Martin for his significant contribution to Tenet Group’s continued success.

"The group has gone from strength to strength, working in partnership with advisers to navigate the changing regulatory landscape and winning numerous industry awards along the way.

"I’m confident however that Martin is leaving the group in capable hands and I look forward to working with Mark."